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Assignment 1: Econ 105 - Introduction to Political Economy, Fall 2011, Voorheis.
Please answer the following questions and turn them into your discussion TA Canan
using the course email econ105@econs.umass.edu. Due on Friday, October 7th.
1. What are the

Econ 105 Midterm Study Guide
1. Explain the following four types of motivations for individual economic behavior: self-interest,
altruism, reciprocity, and group-oriented behavior. What role does each type of motivation play in
individual economic behavio

1. What are the four major classes in the contemporary American economy, according to the political
economy approach? Explain what role each class plays in the economy.
Workers, Capitalists, Old Middle Class (people who own land and still do the labor), N

Eric Van Gelder
Friday 12:20
Econ 105 Paper #2
There is a serious threat to future economic welfare from global climate change. Between
the carbon dioxide and all sorts of different gases that come from the burning of fossil fuels that
trap heat on the ea

ECON 105
Study online at quizlet.com/_23exep
1.
2.
3.
4.
5.
According to Cropp and Zeuli,
what are two commonly used
definitions of co-operatives?
(One from the International
Co-operative Alliance and the
other from the USDA)
International Co-operative
Al

Ricardo Henriquez
ECON 105, Week #2
Due: 1/28/16
Week 2 Reflection Questions
1. Does Lincoln see co-operatives as an expression of communism or capitalism?
I feel as if Lincoln sees co-operatives as an expression of capitalism because it is
evident that L

Econ 105 Introduction to Political Economy Reflection Questions
Week 2
Chris Butler
1/28/2016
1. Does Lincoln see co-operatives as an expression of communism or capitalism?
Lincoln sees co-operatives as an expression of capitalism, he wanted everyone to b

Assignment 4 - Introduction to Political Economy Unit Labor Costs & The Cost of Job Loss
1. Define unit labor costs in words.
- The labor portion of the average cost of producing each unit of output. The amount of
money that employees must be paid for eac

1Introduction to Political Economy Worksheet The Profit Rate
Due by discussion section 11/16 or 11/18.
1. It is argued that one reason why profits persist is because unemployment and the threat of unemployment
induces workers to keep labor intensity high

Day 14 American Capitalism (chapter 7, Understanding Capitalism)
How and Why does capitalism cause change?
How has American capitalism been changed by the process of its own historical development?
The competition that is built into a capitalist economy c

Day 9 John Maynard Keynes
1936 The General Theory of Employment, Interest, and Money
According to Sackery, a crushing blow , swept away much of the debris of classical thinking
about business cycles, and what to do about them
The person:
Brilliant studen

Assignment 2: Econ 105 - Introduction to Political Economy, Fall 2011, Voorheis.
Please answer the following questions and turn them into your discussion TA Canan using the course
email econ105@econs.umass.edu. Due on Friday, October 21st
1. Describe in d

Day 7 The Surplus Product and Karl Marx
Economic Interdependence: exists when the livelihood of a person depends on the activities of another
person.
Horizontal economic interdependence: is based on specialization and is not necessarily based on unequal
a

Day 5 - The Political Economy Challenge to Mainstream Economics
Mainstream Economics (Neoclassical Economics):
1)
narrowly conceived
2)
quantitative/mathematical
3)
restrictive assumptions
Not all Mainstream economists are this narrow, but those that fit

Day 3 - Capitalism - property private. Options?
Community/communal
Government ownership
Worker ownership
Limits by government/contracts
Wealth: the ownership of a stock of durable things or intangibles that yield income or other benefits over an
exten

Lecture Notes for Economics 105: Introduction to Political Economy Fall 2011
Day 1 Capitalism
Capitalism: an economic system in which employers, using privately owned capital
goods, hire wage labor to produce commodities for the purpose of producing a pro

Eric Van Gelder
9/28/15
Econ 105
Necessary and Surplus Product
In Political Economics, there is an approach at a production process where the amount of
completed goods at the end of the production period is considered the total product. Within the
total p